Question 1: TimeValueOfMoneyPro 144 One person starts a formal investment club by establishing a stock "mutual fund" managed by the club, and invests $1000 at the end of Year 1 in the fund. Each year thereafter for nine years, one new member is added to the club. Each member invests $1000 each year in the mutual fund in the name of the club, thereby creating an arithmetic gradient series of deposits. Thus, at the end of Year 10, an increment of $10,000 is added to the mutual fund. The fund compounds at a 11% annual rate. At the end of Year 11, the club stops contributing and instead withdraws an amount A1 such that if withdrawals increase at a 5% annual rate (geometric growth), the fund will be exhausted at the end of Year 20. Note that the fund continues to earn a return of 11% through Year 20. Question 1 What is the amount, A1, that should be withdrawn at the end of Year 11? (Round your answer to six decimal places.) 10953.68913 100% Question 2 To what percentage of the amount, A1, is the first club member entitled? (Input in decimal format i.e. 0.0X for X%, round your answer to six decimal places.) number (rtol=0.01, atol=14-08) X 0% Question 1: TimeValueOfMoneyPro 144 One person starts a formal investment club by establishing a stock "mutual fund" managed by the club, and invests $1000 at the end of Year 1 in the fund. Each year thereafter for nine years, one new member is added to the club. Each member invests $1000 each year in the mutual fund in the name of the club, thereby creating an arithmetic gradient series of deposits. Thus, at the end of Year 10, an increment of $10,000 is added to the mutual fund. The fund compounds at a 11% annual rate. At the end of Year 11, the club stops contributing and instead withdraws an amount A1 such that if withdrawals increase at a 5% annual rate (geometric growth), the fund will be exhausted at the end of Year 20. Note that the fund continues to earn a return of 11% through Year 20. Question 1 What is the amount, A1, that should be withdrawn at the end of Year 11? (Round your answer to six decimal places.) 10953.68913 100% Question 2 To what percentage of the amount, A1, is the first club member entitled? (Input in decimal format i.e. 0.0X for X%, round your answer to six decimal places.) number (rtol=0.01, atol=14-08) X 0%